2014 (7) TMI 1003

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....: Through ORDER Sanjiv Khanna, J. (Oral) Having heard learned counsel for the Revenue in this appeal against the order of the tribunal dated 25th October, 2013, quashing the order under Section 263 of the Income Tax Act, 1961 (Act, for short) passed by the Commissioner, we are not inclined to interfere. We need not examine the issue whether the Commissioner was precluded from passing an o....

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....ification from the records and, therefore, the assessment order to this extent should be set aside for fresh examination. This is impermissible and cannot be allowed under Section 263 as the Commissioner must reach the finding that the assessment order restricting disallowance under Section 14A to Rs. 45,07,413/- was erroneous and incorrect. The Commissioner on the other hand was uncertain and und....

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....he Assessing Officer should be erroneous. Once inquiries were conducted and a decision was reached by the Assessing Officer, it cannot be said that it was a case of no inquiry. In such cases, the Commissioner must reach a finding that the finding of the Assessing Officer was erroneous, not because no inquiries were conducted, but because the final finding was wrong and untenable. 4. The third i....